Director, Enterprise Risk Management (GMG/SEG 4)

Organisation
The Ministry of Economic Growth and Job Creation
Reference
VAC-43055
Contract Type
Full-Time
Industries
Government & Public Sector, Management
Location
Kingston
Salary & Benefits
Date Posted
24/11/2022
Expiry Date
13/12/2022
Reporting directly to the Senior Director, the Director is required to lead the Enterprise Risk Management Portfolio and is responsible for establishing the Ministry’s Risk Management Framework.

 

The incumbent will provide advice and leadership in identifying, evaluating, analysing, and assessing the risks which are inherent to the operations of the Ministry and its’ Agencies. Spearheads the Risk Management Process in designing, co-ordinating and implementing strategies to alleviate possible threats to ensure the achievement of the Ministry’s, Agencies and Departments’ Strategic Business Plans. The Director will also educate and provide advice to internal and external stakeholders on risk management objectives and best practices in an effort to ensure that the Ministry, its Agencies and Departments are compliant with applicable statutes, policies, procedures and standards.

 

Key Responsibilities

Technical/Professional:

  • Establishes, implements and leads the Ministry’s Risk Management Plan, Policy and Strategy;
  • Facilitates the establishment of an effective wide Risk Governance Framework, including risk appetite, risk tolerance levels and limits;
  • Advises on and challenges risk appetites statement(s); identifies changes in GOJ’s risk appetite(s) and ensures alignment across the Ministry, Portfolio Agencies and Departments;
  • Facilitates and co-ordinates the implementation of Risk Management processes in the Ministry in managing its risk environment in a consistent manner across the functional areas and in keeping with GOJ’s policy;
  • Co-ordinates and reports on the Risk Management strategy to the Permanent Secretary and Chief Technical Directors to aid in decision-making in order to ensure each is fulfilling their respective risk oversight responsibilities;
  • Guides the development and implementation of a Risk-based Performance Management Framework to achieve the ultimate Mission of the Ministry;
  • Develops mechanisms to identify, assess and evaluate the risk to enable the execution of the Risk Management strategy;
  • Assesses legal, regulatory and contractual requirements and organizational policies and standards related to the Ministry’s operations and their potential impact on the Strategic Business Objectives;
  • Assembles and analyses risk scenarios to determine the likelihood and impact of significant events to the Ministry’s Strategic Business objectives;
  • Compares identified risk scenarios to relevant business processes to assist in identifying risk ownership;
  • Validates risk appetite and tolerance with Senior Management and key stakeholders to ensure alignment;
  • Approves and leads the implementation of programmes designed to anticipate and minimize threats to the Ministry;
  • Evaluates, monitors and reports on divisional performance to improve the Ministry’s Risk Profile;
  • Provides strategic advice and guidance on Risk Management;
  • Develops and implements mechanisms to support the Executive Management Team to embed a risk management planning and risk awareness culture;
  • Identifies and detects potential threats to brand reputation, financial sustainability, operational efficiency, workforce investments and safety to fully develop a shared understanding of the Ministry’s risk exposure;
  • Establishes and implements a Strategic and Operational Risk Register to record, rate, monitor and report risk;
  • Promotes and champions initiatives for managing risks to create a robust risk awareness culture;
  • Oversees and guides risk owners in the discussion and treatment of individual and aggregate risks;
  • Oversees the conduct of regular risk assessments and preparation of all documentation related to Risk Assessment, and reviews of Standard Operating Procedures ensuring that recommended improvements are fully implemented;
  • Prepares and submits timely Risk Analysis Reports to the Permanent Secretary and Chief Technical Directors and Senior Management Team, with recommended Action Plans for avoidance or prevention of possible threats at all levels;
  • Drives initiatives that support enhanced efficiency and effectiveness in all risk processes;
  • Reviews risk responses with the relevant stakeholders for validation of efficiency, effectiveness and economy;
  • Collects and validates data that measure Key Risk Indicators (KRIs) to monitor and communicate their status to relevant stakeholders;
  • Monitors and communicates KRIs and management activities to assist relevant stakeholders in their decision-making process;
  • Monitors the internal and external risk environment; identifies and flag risk trends as well as material individual, aggregate and emerging risks that may substantially impact strategy and objectives;
  • Facilitates independent Risk Assessments and Risk Management Process reviews to ensure they are performed efficiently and effectively;
  • Identifies and reports on risk, including compliance, to initiate corrective action and meet business and regulatory requirements;
  • Reviews and assesses the Enterprise Risk Management Policy, Strategic and Operational Risk Registers regularly to ensure regulatory compliance and effective Risk Management are maintained;
  • Develops, implements and maintains insurance strategies and financing techniques to appropriately deal with any unanticipated losses;
  • Updates and informs Senior Executives of regulatory, legislative and best practices changes and their obligations under these changes, as well as how they impact the Ministry;
  • Builds awareness within each Division/Branch of business continuity and disaster recovery risks, including encouraging the preparation of business continuity and Disaster Recovery Management Plans;
  • Works closely with key stakeholders to understand the business requirement for projects;
  • Designs and delivers training and presentations at workshops, seminars and other meetings, to further an understanding of the basics of Risk Management;
  • Guides the development and implementation of risk responses to ensure that risk factors and events are addressed in a cost-effective manner and in line with business objectives;
  • Co-ordinates the Risk Management process in the Portfolio Departments mainly to ensure alignment of risk-mitigating strategy and reporting purposes.

 

Management/Administrative:

  • Manages the development of the  Unit’s  Corporate/Operational  Plans,  Budget  and Individual Work Plans;
  • Attends Committee Meetings as necessary.

 

Human Resource:

  • Provides leadership and guidance through effective planning, delegation, communication, training, mentoring, coaching and discipline;
  • Evaluates and monitors the performance of staff in the Unit and implements appropriate strategies;
  • Co-ordinates the development of Individual Work Plans and recommends performance targets for the staff assigned;
  • Participates in the recruitment and training of staff of the Unit;
  • Recommends training, promotion and approves leave in accordance with established Human Resource Policies and Procedures;
  • Identifies skills/competencies gaps and contributes to the development and Succession Planning for the Division to ensure adequate staff capacity;
  • Monitors the performance of staff and facilitates the timely and accurate completion of the staff Annual Performance Appraisals and other periodic reviews;
  • Ensures the well-being of staff supervised;
  • Effects disciplinary measures in keeping with established guidelines/practices.

 

Required Knowledge, Skills and Competencies

Core:

  • Excellent oral and written communication skills
  • Customer and quality focus
  • Excellent negotiating, interpersonal and people management skills
  • Ability to work under pressure
  • Excellent planning and organizing skills
  • Excellent problem-solving and decision-making skills
  • Excellent leadership skills

 

Technical:

  • Strong monitoring, evaluation, analytical and report writing skills
  • Knowledge of the relevant computer applications such as Microsoft Office Suite and MS Project or other project tool
  • Excellent knowledge of ERM framework and tools
  • Sound technical knowledge and expertise to monitor business matters, Corporate governance matters, regulatory risks and regulatory change matters
  • Sound knowledge of research methodology
  • Excellent knowledge of Public Sector management principles
  • Sound knowledge of Government policy formulation, monitoring and evaluation processes

 

Minimum Required Qualification and Experience

  • MBA or MSc in Risk Management, Management Studies, Public Administration and Business preferably or related discipline;
  • Specialized training in Risk Management;
  • Four (4) years’ related experience with at least two (2) years should be in a Risk Management Role.

OR

  • BSc in Management Studies, Public Administration, Business Administration or equivalent qualifications;
  • Specialized training in Risk Management;
  • Six  (6)  years’  related  experience  working  with  at  least  three  (3)  years  in  a  Risk Management role.

 

Special Condition Associated with the Job

  • Long working hours during peak planning and budgeting periods, as well as being on call to provide support to the Permanent Secretary and other Executive Management staff in preparation for Cabinet Meetings.

 

Please note that only shortlisted applicants will be contacted.

 

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